The iTaukei Land Trust Board (TLTB) has strongly rebutted claims regarding the renewal of a commercial lease to Prakash Properties Investment Limited, labeling them as “unfounded and misleading.” This statement emerged following a Town Hall meeting organized by the Fijian Media Association in Tavua, where Mr. Tevita Ralulu from Mataqali Tilivasewa challenged the renewal process.
TLTB clarified that while Mr. Ralulu expressed opposition to the lease renewal, he does not represent the collective viewpoint of the mataqali. The Board emphasized that the renewal process for the lease was conducted with full consultation of the landowners, taking place in February and April 2021, despite the delays imposed by COVID-19 restrictions.
The TLTB stated, “We ensured that thorough consultations were held with the landowning unit before finalizing the new lease agreement.” It was highlighted that Mr. Ralulu was the only individual opposing the renewal and that a majority of the landowners actually supported the continuation. Nevertheless, concerns were raised regarding the financial capacity of the landowners to compensate for improvements made on the leased land, which are appraised at around $3 million.
The Board further noted that the establishment of the iTaukei Wealth Fund now provides landowners with means to purchase and compensate for improvements on leased land. Examples of such progress include Mataqali Ekubu’s recent acquisition of a commercial property in Sigatoka Town, showcasing successful ventures by various mataqali in multiple regions.
Additionally, TLTB mentioned that two other commercial leases on iTaukei land are set to expire without renewal, with the properties reverting to the mataqali, allowing for compensation through the iTaukei Wealth Fund. This decision is part of a broader initiative aimed at empowering landowners to become property owners within town centers.
In conclusion, TLTB described the renewal of the Prakash Properties lease as a “significant milestone,” crucial for sustaining economic activity and development on iTaukei land while protecting the interests of the landowners. The Board’s proactive stance illustrates a commitment to fostering economic growth and enhancing the livelihoods of local communities, suggesting a promising trajectory for the future of land management in Fiji.
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